April 23 (Reuters) - U.S. stocks dipped at the open on Wednesday despite upbeat corporate earnings as buyers appeared scarce following the longest streak of daily gains on the S&P 500 so far this year. The Dow Jones industrial average was down 0.07 percent at 16,503, the S&P 500 was down 0.11 percent at 1,877.56 and the Nasdaq Composite was down 0.55 percent at 4,138.404.
** Hercules Offshore Inc, $4.39, -1.35 pct
The offshore drilling company posted a better-than expected adjusted profit for the first quarter, helped by higher dayrates for rigs in its domestic segment. Revenue rose 38 percent to $256.7 million for the quarter ended March 31.
** SUPERVALU INC, $7.8, +15.38 pct
The U.S. grocery retailer posted a profit compared with a year-ago loss and reported better-than-expected fourth-quarter sales, helped by cost cuts and positive identical-store sales at its Save-A-Lot discount stores and retail food formats.
The company’s adjusted earnings from continuing operations of 18 cents per share beat the average analyst estimate of 15 cents per share, according to Thomson Reuters I/B/E/S.
** SUNPOWER CORP, $31.64, +7.73 pct
The solar panels maker and Google Inc said they will provide financing to support about $250 million of residential solar lease projects. Both companies are investing in the program, with Google committing up to $100 million and SunPower committing about $150 million.
** ERICSSON, $12.24, -5.85 pct
The world’s biggest mobile telecom equipment maker missed first-quarter sales and profit forecasts as its work to rollout faster fourth-generation networks failed to offset the ending of older projects.
** BIOGEN IDEC INC, $295.91, -3.36 pct
The U.S. biotechnology company on Wednesday reported a higher first-quarter profit as sales of its new Tecfidera multiple sclerosis drug extended a run of eclipsing Wall Street sales expectations, and the U.S. biotechnology company raised its full-year forecasts.
** MEDLEY CAPITAL CORP, $13.13, -3.03 pct
The business development company priced a public offering of 6 million shares of its common stock at $13.25 each, below Tuesday’s closing price of $13.54. The company said it intends to use the proceeds to repay debt and to fund new investments.
-3.03** PLUG POWER INC, $6.19, -7.61 pct
The fuel cell systems maker on Wednesday said it expected to lose $5-$6 million before interest, taxes, depreciation, amortization and stock-based compensations in the first quarter ended March, wider than a loss of $4.8 million a year earlier.
The company on Tuesday raised the number of shares issuable in a public offering to 17 million shares from 6.5 million.
** BOEING CO, $129.57, +1.58 pct
Rising jet production helped the company post a 14 percent rise in adjusted net profit in the first quarter, beating estimates. The company also notched up its full-year forecast.
** DOW CHEMICAL CO, $49.91, +1.98 pct
The No. 1 U.S. chemical maker by sales reported a better-than-expected rise in quarterly profit as cost controls helped to boost margins in businesses that make coatings, plastics and crop-protection products.
** DELTA AIR LINES, $36.7, +5.01 pct
The aviation company on Wednesday reported a higher first quarter profit as revenue rose and it benefited from lower fuel and maintenance costs. Net income was $213 million, or 25 cents a share, up from $7 million, or one cent a share, for the year-earlier first quarter.
** MANPOWERGROUP INC, $83.72, +7.50 pct
The world’s third-largest staffing company’s quarterly profit almost tripled, helped by a recovery in hiring in Europe and lower costs, and it forecast accelerating growth in the current quarter.
** EMC CORP, $25.8, -3.59 pct
The technology company posted a better-than-expected 2 percent rise in quarterly revenue due to higher sales of its storage products as customers expand their data centers.
** ARM HOLDINGS, $48.07, -4.07 pct
The UK-based company, whose chip technology powers Apple Inc’s iPhone, said demand for smartphones would pick up in the second half after a disappointing end to 2013 resulted in first-quarter profit rising less than in previous years.
** INTUITIVE SURGICAL INC, $386.98, -8.37 pct
The medical device maker lowered its forecast for procedure growth for its da Vinci surgical robots, citing a slowdown in U.S. gynecology procedures.
At least 7 brokerages cut their price targets on the Intuitive stock.
** TUPPERWARE BRANDS CORP, $86.53, -0.25 pct
The food container maker reported much better-than-expected quarterly results, helped by strong demand from Turkey and South Africa.
The company earned $1.31 per share, excluding items, on revenue of $663 million in the first quarter. Analysts on average were expecting earnings of $1.17 per share on revenue of $651.1 million, according to Thomson Reuters I/B/E/S.
** MANHATTAN ASSOCIATES INC, $35.4, +3.36 pct
The supply chain software supplier forecast full-year revenue and profit above analysts’ expectations on higher demand for its products. The company reported first-quarter earnings that beat analysts’ estimates on Tuesday.
** NORFOLK SOUTHERN CORP, $94.47, -2.53 pct
The U.S. railroad reported an 18 percent drop in quarterly profit as the company hauled less coal to utilities and for export.
** GENERAL DYNAMICS CORP, $110.4, +2.18 pct
The maker of Gulfstream jets, tanks and U.S. Navy ships reported higher-than-expected quarterly earnings and revenue and said its backlog rose 22 percent from the end of 2013.
** CREE INC, $52.4881, -9.58 pct
The LED maker reported third-quarter revenue below analysts’ estimates on Tuesday and said costs of revenue jumped 18 percent.
At least two brokerages cut their price targets on the stock.
** FMC TECHNOLOGIES INC, $59.09, +6.62 pct
The drilling equipment manufacturer reported a higher first-quarter profit, helped by a higher backlog for its subsea technologies business due to strong orders.
** JAKKS PACIFIC INC, $8.565, -6.60 pct
The toymaker reported a smaller-than-expected quarterly loss, helped by higher demand for its dolls and preschool toys such as the Disney Pirate Fairies dolls and foot-to-floor ride-ons and wagons. The company’s first-quarter sales beat the average analyst estimate.
** ELIZABETH ARDEN INC, $31.92, +12.24 pct
South Korea’s LG Household & Healthcare Ltd said it is considering a bid for the U.S. cosmetics firm, an acquisition that would give it globally recognized luxury brands and would be its most ambitious to date.
** SAREPTA THERAPEUTICS INC, $38.57, -0.57 pct
The biotechnology company on Tuesday said it would offer up to $100 million of its common stock to fund the clinical development of its pipeline, including its experimental muscular dystrophy treatment, eteplirsen.
** ALEXION PHARMACEUTICALS INC, $152.17, -2.52 pct
The drugmaker said the European Commission granted its drug Soliris the orphan drug status for use in the prevention of graft rejection following solid organ transplantation.
The designation will provide Alexion with some benefits and incentives, including a period of marketing exclusivity if Soliris is approved for the condition in the EU.
The drug is approved in the United States and the European union for paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, two debilitating, rare, life-threatening disorders.
** ONCOGENEX PHARMACEUTICALS INC, $10.42, +0.48 pct
The drugmaker said the U.S. Food and Drug Administration has granted fast-track status for the late-stage trial of its experimental prostate cancer drug custirsen. The drug is being studied in combination with chemotherapy cabazitaxel and prednisone.
Fast-track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need.
** XOOM CORP, $23.3301, +18.43 pct
The money transfer provider reported an adjusted earnings of 6 cents per share for the quarter ended March 31, beating analysts’ average estimate of 4 cents, according to Thomson Reuters I/B/E/S. The company’s revenue rose 48 percent to $35.9 million, topping analysts’ view of $34.4 million.
Brokerage Suntrust Robinson Humphrey raised the company’s price target to $40 from $33, citing better-than-expected first quarter results and strong profitability.
** SANMINA-SCI CORP, $21.3299, +16.81 pct
The electronic components manufacturer reported second-quarter results above analysts’ estimates, helped by higher demand.
** CELESTICA INC, $11.1, +1.56 pct
The Canadian contract electronics manufacturer’s quarterly profit more than tripled, helped by higher operating margins.
** INGERSOLL-RAND PLC, $60.29, +3.97 pct
Ingersoll-Rand, best known for its Trane airconditioners, forecast current-quarter earnings above estimates after reporting better-than-expected first-quarter results, helped by higher sales of its heating and cooling systems.
** JOHNSON CONTROLS INC, $47.12, -2.34 pct
The company reported a better-than-expected quarterly profit as higher vehicle production in key markets drove up sales of car seats and other auto parts.
** PROCTER & GAMBLE CO, $79.85, -0.94 pct
The world’s largest household products maker reported a higher quarterly profit on Wednesday, helped by an increase in sales of its home care products.
** NORTHROP GRUMMAN CORP, $121.61, +1.52 pct
The maker of unmanned planes on Wednesday reported a higher-than-expected quarterly profit despite a drop in sales, and the U.S. weapons maker raised its earnings forecast.
** SPECTRUM PHARMACEUTICALS, $7.01, +1.59 pct
The company said its experimental blood cancer drug was shown to be safe and effective in a mid-stage trial.
** POLARIS INDUSTRIES INC, $141.73, +1.01 pct
The maker of off-road vehicles raised its full-year profit forecast after reporting a 7 percent rise in quarterly earnings, helped by strong sales of its motorcycles and off-road vehicles.
** SKECHERS USA INC, $38.86, +5.40 pct
The company on Tuesday posted a near-fivefold jump in quarterly profit after its new footwear designs sold well in the United States and abroad.
** SKYWORKS SOLUTIONS INC, $40.82, +7.53 pct
The chipmaker’s second-quarter results and current-quarter forecast beat Wall Street estimates, helped by strong sales of chips used to connect machines to the Internet.
** VMWARE INC, $95.4, -9.27 pct
The virtualization software maker reported better-than-expected first-quarter revenue and forecast current-quarter revenue largely above analysts’ average estimate as more customers opt for its cloud infrastructure services. However, the company on Tuesday acknowledged a delay in closing some of its enterprise license agreements in the first quarter as customers looked to sign expanded deals.
** GOOGLE INC, $541.87, -0.67 pct
The Internert search giant will allow marketers to run online ads that send consumers to a page directly inside a mobile app, furthering the company’s effort to extend its multibillion-dollar advertising business to smartphones.
** COMCAST CORP, $51.07, +0.47 pct
** TIME WARNER CABLE INC, $139.23, +0.58 pct
** CHARTER COMMUNICATIONS INC, $128.15, +0.94 pct
Comcast may divest about 4 million subscribers after its merger with Time Warner Cable and is working to reach an accord to sell a portion of those customers to Charter Communications, a source familiar with the matter said Tuesday.
** AMGEN INC, $113.25, -5.07 pct
The drugmaker on Tuesday reported lower-than-expected first quarter profit as sales of several key products fell short of Wall Street estimates, with its big-selling rheumatoid arthritis drug Enbrel particularly hard hit by inventory stocking by wholesalers late last year.
** WAL-MART STORES INC, $78.06, +0.64 pct
The retail chain is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported.
** DISH NETWORK CORP, $60, +0.98 pct
The No. 2 U.S. satellite TV provider is looking to debut internet TV service this summer, Bloomberg News reported on Tuesday citing people familiar with the matter.
** JETBLUE AIRWAYS CORP, $8.6375, +0.55 pct
The airline’s pilots voted by a wide margin on Tuesday to join the Air Line Pilots Association union, sending the budget carrier’s stock price down on concerns the move would raise the airline’s costs.
** DARDEN RESTAURANT INC, $50.55, +1.36 pct
Darden will have to call a shareholder meeting to vote on Starboard Value LP’s proposal to delay the company’s plan to spin off its struggling Red Lobster chain, after the activist investor secured the support of a majority of the company’s shareholders.
** AT&T INC, $35.25, -2.87 pct
Some analysts were disappointed with the No. 2 wireless service provider though it raised its 2014 revenue growth forecast.
AT&T raised its full-year revenue growth forecast to at least 4 percent from 3 percent on Tuesday and said it expects adjusted earnings per share to grow at a mid-single digit rate.
The “disappointing” increase in revenue and EPS were mostly because of the larger number of customers shifting to the cheaper Mobile Share Value plan, which will eat into service revenue going forward, JP Morgan analysts wrote in a note and cut their price target on the stock to $34 from $35.
** INTUITIVE SURGICAL INC, $386.98, -8.37 pct
Several analysts cut their price targets on the medical device maker’s stock after it lowered its forecast on Tuesday for procedure growth for its da Vinci surgical robots, citing a slowdown in U.S. gynecology procedures.
** GILEAD SCIENCES INC, $74.93, +2.84 pct
Gilead, which has ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple.
At least two brokerages raised their target prices on the drugmaker’s stock after it said its new $1,000 hepatitis C pill generated record-breaking sales of $2.27 billion, helping the company’s quarterly net profit nearly triple and soundly beat analysts’ estimates.
** YUM BRANDS INC, $77.03, -0.58 pct
KFC parent Yum Brands on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety scare that pummeled demand for chicken last year. $29.45 (Compiled by Rohit T.K. in Bangalore; Editing by)